Farmland Partners Inc. Announces Executive Changes
February 24, 2023 at 03:38 am IST
Share
As previously disclosed, on February 23, 2023, Luca Fabbri, the President of Farmland Partners Inc., assumed the position of Chief Executive Officer and was appointed to the Company's Board of Directors (the “Board”) following the filing of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022 with the Securities and Exchange Commission. Paul A. Pittman, the Company's previous Chief Executive Officer and Executive Chairman of the Board will continue to serve as Executive Chairman of the Board and as a full-time employee of the Company following the Transition. As a non-independent director, Mr. Fabbri will not serve on any committees of the Board.
Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire North American farmland and makes loans to farmers secured by farm real estate. The Company owns and/or manages approximately 171,100 acres in 16 states, including Arkansas, California, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Nebraska, North Carolina, Oklahoma, South Carolina and Texas. In addition, the Company owns land and buildings for four agriculture equipment dealerships in Ohio leased to Ag Pro under the John Deere brand. Its portfolio is used to grow primary crops, such as corn, soybeans, wheat, rice and cotton, and produce specialty crops, such as almonds, citrus, blueberries and vegetables. In addition, under the FPI Loan Program, it provides loans to third-party farmers (both tenant and non-tenant) to provide financing for property acquisitions, working capital requirements and others. It has over 26 crop types and over 100 tenants.
FARMLAND PARTNERS INC. 
